Pride Holdings CEO Retires, Returns 20% of Stock

ORLANDO, FL - Pride Holdings Group (OTC: PHSE), a publicly traded holding company focused on LGBTQ+ hospitality, entertainment, and lifestyle brands, announced the retirement of CEO Michael Barrett. Barrett, who led the company's transformation into a diversified holding company serving the LGBTQ+ community, voluntarily returned over 20% of the company's common stock to the corporate treasury. The Board of Directors has initiated a succession plan and expects to name a new CEO soon, with COO Tim Majors expressing gratitude for Barrett's leadership and vision.

Under Barrett's tenure, Pride Holdings Group built a foundation for expansion through strategic acquisitions and a long-term vision to become one of the world's leading LGBTQ+-focused public companies. The company remains focused on executing growth initiatives, with a pipeline of acquisition opportunities expected to be announced in the coming weeks. Additionally, the company has canceled its previously proposed reverse stock split with FINRA, a decision management believes aligns with strategic objectives and reflects confidence in its growth strategy.

Tim Majors, COO, emphasized the company's commitment to disciplined acquisitions and strategic expansion. Pride Holdings Group cautions that acquisition opportunities are subject to due diligence and regulatory approvals. For more information, visit the company's media relations press@prideholdingsgroup.com. The company also highlighted its focus on creating safe, inclusive community spaces while delivering long-term shareholder value, as detailed in the original NEWMEDIAWIRE release.